The broken Nov 2012 support line held up for one attempt but we’ve busted that and the 38.2 fib at 1.2350 as we shoot to the nose-bleed heights of 1.2369 and just pulling up at the October highs at 123.70/75.
EUR/CHF h4 chart 07 01 2014
As Mike noted there’s seller roughly every 10 pips up from here until 1.24 but the way it’s looking they are being taken out fairly easily. I would look to 1.2400 as the strongest possible stalling point but if that goes then we could have some fun on our hands.
Look to 1.2350 to become mild support on a move back down.
